Technical analysis by MrRik about Symbol APT on 2/1/2024

SUI had a nice run, price discovery. While Aptos at 1/2 of ATHs. SUI also jumped over Aptos in terms of FDV 15b vs Aptos 9.7b. Aptos had big involvements with FTX maybe that's why sellpressure and underperformance. In terms of chart: - ATH - Low --> FIB 1. beautiful retracement to 0.25. 2. bounce to 0.618 got rejected 3. tested 0.5 as support 4. now decision time. Bull case: IF this is a big bull flag forming, and breaks out to upside, then target ATHs; Low time frame: potential head and shoulders, if plays out we revisit bottom of the channel. IF we go downside, 7.8 - 8$ is where i would start buying.